Why do we need private banks

[TheBreeze]

[quote=rnen]Yep, thats the answer alright…. have the government control a single bank. That would solve all our problems, I mean look how successful the past administrations, BOTH Dem. and Rep., have been at running any programs. The astounding results of the Social Security program is all I need to see! How could we all have been so blind to the obvious answer to all of these problems… bigger and better government. Hey, we already have two people that could step in and run the bank so success would be assured and good times and prospierity for all would result… Barney Frank and Chuck Shumer!!

[/quote]

Not sure if you’ve been living under a rock or not, but pretty much all the big banks would be out of business if it weren’t for government/taxpayer dollars propping them up. The same fate would probably befall most of the small banks too. So what exactly is the point of your ridiculous rant?

[CA renter]

Exactly, Breeze.

[CA renter]

Exactly, Breeze.

[CA renter]

Exactly, Breeze.

[CA renter]

Exactly, Breeze.

[CA renter]

Exactly, Breeze.

[Arraya]

I think I prefer government controlling banks than the way it is now, which is banks controlling government. I don’t think this is going to end well. Essentially we are being held hostage by the entire financial industry.

and then we have this:

U(AP) — Congressional leaders have killed a plan that would have forced financial institutions to compensate taxpayers if they paid their executives large bonuses after receiving federal bailout money.

The Senate had approved the repayment plan as part of an effort to crack down on Wall Street firms that paid huge bonuses — some in the millions of dollars — to their top executives even as they received taxpayer money in the federal bailout last fall.

The provision was removed as House and Senate negotiators hammered out final details of the $789 billion economic stimulus legislation this week.

A spokeswoman for Sen. Ron Wyden, D-Ore., said no one spoke against the amendment when Wyden introduced it on the Senate floor. “Somehow, it got stripped out behind closed doors,” said the spokeswoman, Jennifer Hoelzer.

Who is going to rescue us after the banks bleed us dry?

[Arraya]

I think I prefer government controlling banks than the way it is now, which is banks controlling government. I don’t think this is going to end well. Essentially we are being held hostage by the entire financial industry.

and then we have this:

U(AP) — Congressional leaders have killed a plan that would have forced financial institutions to compensate taxpayers if they paid their executives large bonuses after receiving federal bailout money.

The Senate had approved the repayment plan as part of an effort to crack down on Wall Street firms that paid huge bonuses — some in the millions of dollars — to their top executives even as they received taxpayer money in the federal bailout last fall.

The provision was removed as House and Senate negotiators hammered out final details of the $789 billion economic stimulus legislation this week.

A spokeswoman for Sen. Ron Wyden, D-Ore., said no one spoke against the amendment when Wyden introduced it on the Senate floor. “Somehow, it got stripped out behind closed doors,” said the spokeswoman, Jennifer Hoelzer.

Who is going to rescue us after the banks bleed us dry?

[Arraya]

I think I prefer government controlling banks than the way it is now, which is banks controlling government. I don’t think this is going to end well. Essentially we are being held hostage by the entire financial industry.

and then we have this:

U(AP) — Congressional leaders have killed a plan that would have forced financial institutions to compensate taxpayers if they paid their executives large bonuses after receiving federal bailout money.

The Senate had approved the repayment plan as part of an effort to crack down on Wall Street firms that paid huge bonuses — some in the millions of dollars — to their top executives even as they received taxpayer money in the federal bailout last fall.

The provision was removed as House and Senate negotiators hammered out final details of the $789 billion economic stimulus legislation this week.

A spokeswoman for Sen. Ron Wyden, D-Ore., said no one spoke against the amendment when Wyden introduced it on the Senate floor. “Somehow, it got stripped out behind closed doors,” said the spokeswoman, Jennifer Hoelzer.

Who is going to rescue us after the banks bleed us dry?

[Arraya]

I think I prefer government controlling banks than the way it is now, which is banks controlling government. I don’t think this is going to end well. Essentially we are being held hostage by the entire financial industry.

and then we have this:

U(AP) — Congressional leaders have killed a plan that would have forced financial institutions to compensate taxpayers if they paid their executives large bonuses after receiving federal bailout money.

The Senate had approved the repayment plan as part of an effort to crack down on Wall Street firms that paid huge bonuses — some in the millions of dollars — to their top executives even as they received taxpayer money in the federal bailout last fall.

The provision was removed as House and Senate negotiators hammered out final details of the $789 billion economic stimulus legislation this week.

A spokeswoman for Sen. Ron Wyden, D-Ore., said no one spoke against the amendment when Wyden introduced it on the Senate floor. “Somehow, it got stripped out behind closed doors,” said the spokeswoman, Jennifer Hoelzer.

Who is going to rescue us after the banks bleed us dry?

[Arraya]

I think I prefer government controlling banks than the way it is now, which is banks controlling government. I don’t think this is going to end well. Essentially we are being held hostage by the entire financial industry.

and then we have this:

U(AP) — Congressional leaders have killed a plan that would have forced financial institutions to compensate taxpayers if they paid their executives large bonuses after receiving federal bailout money.

The Senate had approved the repayment plan as part of an effort to crack down on Wall Street firms that paid huge bonuses — some in the millions of dollars — to their top executives even as they received taxpayer money in the federal bailout last fall.

The provision was removed as House and Senate negotiators hammered out final details of the $789 billion economic stimulus legislation this week.

A spokeswoman for Sen. Ron Wyden, D-Ore., said no one spoke against the amendment when Wyden introduced it on the Senate floor. “Somehow, it got stripped out behind closed doors,” said the spokeswoman, Jennifer Hoelzer.

Who is going to rescue us after the banks bleed us dry?

[afx114]

It seems to me that if we (the public) are putting money into banks, they are already, by definition, nationalized. The whole point of capitalism is that the ones who put capital into a business are in effect the owners of said business.

If taxpayers are putting money into banks, taxpayers should own the banks. How is that not nationalization? I want my share of the banks. Do you?

[afx114]

It seems to me that if we (the public) are putting money into banks, they are already, by definition, nationalized. The whole point of capitalism is that the ones who put capital into a business are in effect the owners of said business.

If taxpayers are putting money into banks, taxpayers should own the banks. How is that not nationalization? I want my share of the banks. Do you?

[afx114]

It seems to me that if we (the public) are putting money into banks, they are already, by definition, nationalized. The whole point of capitalism is that the ones who put capital into a business are in effect the owners of said business.

If taxpayers are putting money into banks, taxpayers should own the banks. How is that not nationalization? I want my share of the banks. Do you?

[afx114]

It seems to me that if we (the public) are putting money into banks, they are already, by definition, nationalized. The whole point of capitalism is that the ones who put capital into a business are in effect the owners of said business.

If taxpayers are putting money into banks, taxpayers should own the banks. How is that not nationalization? I want my share of the banks. Do you?

[Author]

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